Exchange $100 bills by month end...or else

$100 notes running through a counter.  - Jeff K.Mayers
$100 notes running through a counter. - Jeff K.Mayers

People wanting to exchange their cotton $100 bills during the extended demonetisation period, will have until the end of this month to do so. This, coming from the Central Bank in a release sent to the media highlighting guidelines on the demonetisation process.

The release said people wishing to exchange up to $1,000 would be put through an expedited process which would allow them to change the bills on the same day. They would have to sigh a form and present it at Central Bank along with a valid ID card. But such exchanges will be accommodated until January 31– the end of this month.

People who miss this deadline will still be able to exchange the bills if they were hospitalised incapacitated, out of the country or unable for a legal or some demonstrably serious reason were unable to exchange their bills before this month’s deadline would be able to change the bills if they go to Central Bank with valid identification, proof of address and source of funds, and documentary evidence of inability to convert their bills by December 31.

They will also have to sign a statutory declaration which would verify the information provided. They would also have to attest that they are aware they can be prosecuted of they knowingly provided misinformation to Central Bank.

The cotton $100 bills were demonetised on January 31 2019 and bills are currently being collected and exchanged during an extended period, which will end in March.


"Exchange $100 bills by month end…or else"

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